1/3 Fractional Share In 2019 Thor Challenger 37TB

We have had this RV for 2 years, and have periodically rented it out. This said , we have only used it for a few weeks each year, and as a result have decided that we would like to bring on two additional parties who would also like to be fractional owners with us.

One receives 33.3% ownership in the equipment in exchange for the purchase price. We will handle the ownership and governance of the group with an LLC structure. The RV will be, and shall remain, free of debt throughout the ownership period.

Possession will be decided in Jan of each year. We will each pick a 10-14 day fixed block each year (which likely has some significance to each of us concerning our schedules, family reunions, etc). From there the remaining 46 weeks will be selected via a draft style auction in 2 week blocks. Therefore, the initial schedule will be fixed after the draft each year, but one can obviously trade amongst each other as the season progresses.

The ownership costs will be split three ways (insurance, registration, storage and winterization) and the three of us will arrive at mutually acceptable fees we contribute to a maintenance fund based on either mileage or hours added with each use. From there all repairs would be drawn from the maintenance fund, and if we hit the cost per mile estimates correctly there will be no additional fees outside of the annual ownership cost fee (which will total +/-$1,200/year).

Further, I believe it would be advantageous to pick a month and year that we list the RV for sale (perhaps November of 2026), short of a unanimous decision to extend ownership, such that all parties know there is a start and an end date for their investment. The resulting funds from sale will be split 3 ways, and the LLC will be dissolved. Subletting or renting of the RV will be prohibited, though reasonable use by those well known to the owner is acceptable (for example we would intend to put one of our blocks up in our Catholic School’s silent auction fundraiser each year, but we know nearly all of the families which attend this small school).

The group will not allow one to place any sort of a lien against the equipment itself, though if you have a friendly local banker, they may take your LLC shares as collateral, which is acceptable. If I have missed anything, or if you want to tour the RV, please reach out to me. I keep it in Apple Valley, MN. Thank you.